Elliniko

Lamda Development announced on Tuesday the signing of the definitive agreement with the Brook Lane investment firm for the establishment of the Ellinikon Park Tower company, which will be the vehicle for the development of another tower at Elliniko.

It is a mixed-use property with an estimated investment above 500 million euros.

The Mount Olympus, an old Boeing 727 of Olympic Airways, which was founded by Greek shipping tycoon Aristotle Onassis in 1957, has been dismantled 24 years after it stopped flying so that it could be moved to its new home, on Vouliagmenis Avenue, a few meters from the Elliniko metro stop.

To be fair, the previous significant Education Ministry reform, under a PASOK government, concerning partnerships between Greek and foreign universities, didn't yield substantial results.

Preparations are underway for the establishment of the first private university in Greece, which will be Cypriot.

It will be named University of Nicosia Greece Brance Medical Limited, or UNGBM Ltd.

It is very likely that the extension of Kymis Avenue in northern Athens, the extension of the Western Ring Road of Ymittos toward Elliniko, and other projects that were planned but have not yet started will be shelved by the Ministry of Infrastructure.

A total of 2.15 billion euros will be invested by 2027 in the Elliniko plot in southern Athens by four companies that have agreed with Lamda on the development of individual parts of the area once occupied by the capital's airport.

It is estimated that the required building permits will have been secured by end-June so that these projects can start.

The steps taken for the development of the Ellinikon project are not only impressive and unprecedented for Greece, but they are leaps of progress for the plan to make the new city increasingly visible to all, according to the introductory note of "The Ellinikon" news bulletin, alongside pictures and videos on the progress of individual works in the context of the urban regeneration.

The management of Lamda Development expects revenues that may even reach 400 million euros from the sale of the Elliniko development's section in which new, bioclimatic office buildings are to be developed.

After coming under fire over the removal of dozens of trees from a public square in downtown Athens to make way for a new station, subway operator Elliniko Metro on Tuesday vowed to bring the greenery back. 

As tension between residents and the contractors building the extension of the capital's metro system mounts over the removal of dozens of trees in the downtown Athens district of Exarchia, another source of friction is developing in nearby Pangrati.